IFM Investors Pty Ltd Has $3.35 Million Holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

IFM Investors Pty Ltd raised its position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,328 shares of the biotechnology company’s stock after purchasing an additional 158 shares during the quarter. IFM Investors Pty Ltd’s holdings in BioMarin Pharmaceutical were worth $3,348,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. AMI Asset Management Corp raised its position in BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after buying an additional 118,230 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of BioMarin Pharmaceutical by 65.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 100,279 shares of the biotechnology company’s stock worth $8,758,000 after acquiring an additional 39,708 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in shares of BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 246 shares during the last quarter. Cannon Global Investment Management LLC lifted its position in shares of BioMarin Pharmaceutical by 11.4% in the first quarter. Cannon Global Investment Management LLC now owns 7,800 shares of the biotechnology company’s stock worth $681,000 after purchasing an additional 800 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new position in BioMarin Pharmaceutical during the first quarter worth $1,341,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded down $1.26 during trading hours on Friday, hitting $80.91. 2,257,132 shares of the stock were exchanged, compared to its average volume of 1,697,110. BioMarin Pharmaceutical Inc. has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $15.27 billion, a P/E ratio of 75.62, a P/E/G ratio of 1.51 and a beta of 0.31. The company has a 50-day simple moving average of $87.58 and a two-hundred day simple moving average of $89.13.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. BioMarin Pharmaceutical’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP George Eric Davis sold 24,602 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $88.34, for a total transaction of $2,173,340.68. Following the completion of the sale, the executive vice president now owns 55,856 shares of the company’s stock, valued at $4,934,319.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,229 shares of company stock worth $9,062,967. Company insiders own 1.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BMRN shares. Wells Fargo & Company lifted their price target on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Citigroup dropped their target price on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler lowered their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.